Blockchain Asia | # 11

Temasek joined Libra, Japan approved 2 self-regulatory bodies and more

This briefing covers:

  1. Temasek joined Libra

  2. A mysterious mining pool appears right after bitcoin halving

  3. BlockFi expanding to Asia

  4. Blockdaemon received capital from Asian VCs

  5. Japanese regulator approves two self-regulatory bodies

Singapore sovereign wealth fund Temasek joins Libra Association

Despite the warnings made by Singapore’s central bank, Temasek, a technology investor backed by the Singapore government, joined Libra Association as the first Asia-based and state-backed member of Libra.

"Blockchain technology can play a transformative role in payments networks by enhancing cost efficiencies, creating new business opportunities and accelerating financial inclusion," Chia Song Hwee, deputy Chief Executive Officer of Temasek International, said in a statement. "Our participation in the Libra Association as a member will allow us to contribute towards a regulated global network for cost-effective retail payments," he said.

Last September, the Singapore Dollar was added to the currency basket of Libra.

The participation of Temasek is an encouraging sign for the Libra project following the departure of a number of high profile members. Read more

Mysterious mining pool - Lubian

A mysterious mining pool Lubian (in Chinese it means “roadside”) emerged from nowhere right after the bitcoin halving. From the IP of its website, the company is run on Alibaba’s cloud and based in Hong Kong. Its hash rate and ranking on’s pool statistics’ website keep rising. Even the Chinese mining community does not know about Lubian. Some people speculate that some key miners are behind it. Read more

Visit here for a detailed Mining Map created by Cambridge University.

BlockFi is expanding to Asia

BlockFi, a NY-based wealth management firm for crypto investors, provides crypto backed lending, interest earning account for crypto and stable coins, crypto trading and institutional services, is expanding to Asia and Europe to grow its institutional services, lending crypto, stable coins and US dollars to the Asia market. BlockFi is backed by many high profile institutional investors, including Asian investors Kenetic Capital, Recruit, HashKey Capital and Three Arrows Capital. Read more

Separately, one of BlockFi’s investors SoFi recently announced its expansion to Asia through the acquisition of a Hong Kong-based mobile-only brokerage firm. Read more

New York Blockchain node provider Blockdaemon received investment from Asia

Blockdaemon raised $5.5 million from investors including Asian VCs HashKey Capital and Fenbushi to support its expansion to Europe and Asia. It is going to open offices in Berlin and Singapore. Read more

Japanese SEC enhancing token and exchange regulations

Two self-regulatory bodies have been approved by Japan FSA (Financial Services Agency), equivalent to U.S. SEC. They are the Japan STO Association and the Japan Virtual Currency Exchange Business Association (JVCEA), the former overseeing token offerings and the latter on providing protection for exchanges. Read more

The Payment Services Act (PSA) and Financial Instruments and Exchange Act (FIEA), two pieces of legislation passed by the Japanese House of Representatives last year to regulate crypto, went into effect May 1. Read more

Japan stands out among its Asian peers in trying to provide more regulatory clarity to operators and protection to investors in cryptocurrency.


Blockchain Asia covers exclusively blockchain developments in Asia, including regulations, investments, new deals and company highlights. It is owned by Kee Global Advisors. For previous posts, please visit here. For any inquiry, please email